I am stunned by the short-term and long-term positive effect on bottom line contribution margin of online risk assessments.
- In year #1, 2% of everyone you get into an online assessment will turn into a procedure – an actual surgery event. So if you get 5,000 people online (an easy target) you drive a marginal 100 surgeries
- Results actually build year over year – meaning you will make more money from your efforts in years 2 and 3 than you did from year 1
- You are not directly competing with other hospitals and providers but making claims of being a better clinical choice – you are instead owning the uncontested market by providing free help those in the community (Ironically, the best way to drive profitable volume)
- Offering risk assessments will increase your marketshare. Because you are not competing for patients and owning the uncontested market (see previous point), you are bringing new, asymptomatic consumers into the health system
- No better way to encourage and increase social sharing and viral growth from consumers – consumers will recommend and directly their networks to your site
- Build a database of people who need your help
- Establish community leadership as an organization who helps, prevents and heals – versus just another voice in the community trying to sell something to consumers
- Create a meaningful differentiation – the leadership in early detection, prevention and wellness. Versus the same old same old look at our ratings and top clinicians
These are compelling reasons to do online risk assessments but it is a shock to me that many hospital marketers ignore this media. Instead of marketers or media buyers, most of these programs are sold to service line leaders, but marketers should be spending media budgets to execute online risk assessment programs.
Two favorites of mine are the HealthAware program or Evalia. These programs and ones like them are not cheap, but the ROI is fast and measurable. They are also a whole lot cheaper than traditional media. You gotta love that.
My advice: If you are not doing online early detection, start today.